Press Releases

Abu Dhabi economy to benefit from new sustainability and renewable energy initiative

“Al Masdar” Initiative to research, develop and commercialize advanced Technologies to sustain Long Term Economic Growth

14 March 2006

“Al Masdar” Initiative to research, develop and commercialize advanced Technologies to sustain Long Term Economic Growth

The Executive Affairs Authority of the Emirate of Abu Dhabi today announced the “Al Masdar” Initiative. This Initiative creates a new framework for the development and promotion of world class, and global scale, renewable energy and resource sustainability industries in Abu Dhabi. It will be backed by a major commitment from the Authority.

The “Al Masdar” Initiative will focus on the development and commercialization of advanced and innovative technologies in renewable energy, energy efficiency, carbon management and monetization, water usage and desalination. It will be based on the following four elements:

An Innovation Center to support the demonstration, commercialization and adoption of sustainable energy technologies;

A world-class University offering specialist graduate programs in renewable energy and sustainability, in partnership with leading international universities and research institutes.

A specialized Development Company focused on the commercialization of emissions reduction, and Clean Development Mechanism solutions as provided by the Kyoto Protocol on climate change.;

A Special Economic Zone tailored to hosting institutions which will invest in development and production of renewable energy technologies and products.

As part of the initiative His Excellency Khaldoon Khalifa Al Mubarak, Chairman of the Abu Dhabi Executive Affairs Authority, announced that the Authority will form a special corporation to oversee its commercial implementation. This new entity will be responsible for the development of all four aspects of the “Al Masdar” initiative, and will operate in close coordination with ADNOC, ADWEA, the Abu Dhabi Environmental Agency, and the Abu Dhabi Education Council, as well as various other government departments.

His Excellency stated, “We recognize that the future of sustainability and renewable energy lies in both increased scale and commercialization. Our approach is therefore about creating a significant initiative; one borne out of partnership with commercial entities that already do, or will, lead the sector.”

“The Al Masdar Initiative will see Abu Dhabi become a global center of excellence for sustainable technologies” said HE Al Mubarak. “Significantly, it will also provide a strong driver for further economic diversification and a transition mechanism to the industries of the future,” he added.

“This significant investment in sustainability and renewable energy technologies is a logical extension of Abu Dhabi’s existing position as a leading global energy producer.” He added, “We are already in numerous advanced discussions with leading academic and research bodies, the renewable energy sector, and international agencies working towards sustainable development.”

The “Al Masdar” Initiative is intended to contribute significantly over time to enlarging the field of career opportunities, raising the quality of education, expanding the Abu Dhabi economy, and delivering a cleaner and safer environment to the UAE and the region.